Developer to Build “Mega, Mega” Project in N. Texas

Lake Texoma may one day be the site of a 3,000 acre master-planned community. The project, which straddles the border of Texas and Oklahoma is slated to include a resort hotel, retail, restaurants, an upscale marina, and about 7,500 homes and rental units. The Dallas Business Journal reports that the developer, David Craig, estimates the project, named Preston Harbor, will have a $4 to $5 billion ad valorem value at buildout. Craig, who is developing a large master-planned community in McKinney, told the DBJ, “There’s nothing that’s been done like this in North Texas. This is mega-mega.”

The development will have nine miles of frontage on Lake Texoma. A marina containing 400-600 boat slips will be front and center in the project. That part of the project will include restaurants overlooking the lake and other retail opportunities along with townhome and multifamily development.

Preston Harbor will be roughly 75 miles north of Dallas.